UK gas rises as maintenance squeezes supply

British prompt gas prices rose on Friday morning as planned maintenance at a terminal in Scotland reduced output from the facility, leaving the system undersupplied despite low demand and mild weather.

British within-day gas prices rose nearly half a penny to 60.25 pence per therm at 1036 GMT, while Monday gas also traded higher at 60.50 pence.

“There is continued St Fergus maintenance which is reducing supplies from there and keeping system a bit short, despite pretty mild temperatures,” a gas market analyst at a bank said.

Supply from Total’s St Fergus terminal in Scotland nearly halved early on Friday to around 9 million cubic metres per day (mcm/d) as maintenance work was expected to restrict output for 12-18 hours.